Ling Ge’s Personal Analysis of Spot Gold Morning Strategy

The weekly chart shows a bottom-finding and rebound pattern for two consecutive weeks. The bottom support is firmly established, and the overall rebound big trend remains unchanged. Bullish momentum is weakening, and the market is moving into a high-level consolidation and washout range. The pullback is a corrective move within the uptrend.

Fundamentals: a cooling in Non-Farm Payrolls has reduced expectations for further rate hikes, and global central banks continue to buy gold to support prices. Only a small short-term rebound in the US dollar is suppressing the gains.

On the daily chart, the gold price is still holding above all short-term moving averages. The moving averages are stacked in a bullish alignment. Only the MACD red histogram is slightly shrinking, indicating a brief pause in bullish strength. There is limited room for downside, and the support below is well-positioned to absorb dips.

The line that separates intraday strength and weakness is around 4130. This is where the Bollinger middle band and moving averages overlap as support. Pulling back to retest this area offers extremely high risk-reward for going long. The medium-term bullish defense level is set at 4100; only a break below would change the rhythm of this rebound.

Enter around 4120 on the pullback (哆), targeting 4180-4200-4220.